Common use of LENDERS’ ACCOUNTING Clause in Contracts

LENDERS’ ACCOUNTING. Agent shall maintain a loan account (the "Loan Account") on its books in which shall be recorded (a) the names and addresses and the Commitments of Lenders, and principal amount of Line A Advances and Line B Advances owing to each Lender from time to time, and (b) all Line A Advances and Line B Advances and repayments of principal and payments of accrued interest under such Advances, as well as payments of fees required to be paid pursuant to this Agreement. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Monthly or at such other interval as is customary with Agent's practice, Agent will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each Lender. Each such statement shall be deemed final, binding and conclusive upon Borrower in all respects as to all matters reflected therein (absent manifest error), unless Borrower, within thirty (30) days after the date such statement is mailed or otherwise delivered to Borrower, delivers to Agent written notice of any objections which Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. In the event that any such objection cannot be settled by Agent and Borrower within thirty (30) days after Agent receives notice thereof from Borrower, Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, Agent's entries in the Loan Account evidencing Advances and other financial accommodations made from time to time shall be final, binding and conclusive upon Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account.

Appears in 1 contract

Samples: Revolving Credit Agreement (Arden Realty Inc)

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LENDERS’ ACCOUNTING. 2.3.1 Administrative Agent shall maintain a loan account (the "Loan Account") on its books in which shall be recorded (ai) the names and addresses and the Commitments of Lenders and the names and addresses of Designated Bid Lenders, and the principal amount of Line A Advances and Line B Advances Loans owing to each Lender and Designated Bid Lender from time to time, and (bii) all Line A Advances and Line B Advances advances and repayments of principal and payments of accrued interest under such Advancesthe Loans, as well as payments of fees required to be paid pursuant to the Facility Fee, as provided in this Agreement, separately identifying Loans and prepayments (or repayments, as the case may be) under the Swing Line and under the Bid Loan Facility. All entries in the Loan Account shall be made in accordance with Administrative Agent's customary accounting practices as in effect from time to time. Monthly or at such other interval as is customary with Administrative Agent's practice, Administrative Agent will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each Lender (for itself and for transmittal to its Designated Bid Lender, if any). Each such statement shall be deemed final, binding and conclusive upon Borrower in all respects as to all matters reflected therein (absent manifest error), unless Borrower, within thirty (30) days after the date such statement is mailed or otherwise delivered to Borrower, delivers to Administrative Agent written notice of any objections which Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. In the event that any such objection cannot be settled by Administrative Agent and Borrower within thirty (30) days after Administrative Agent receives notice thereof from Borrower, Administrative Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, Administrative Agent's entries in the Loan Account evidencing Advances Loans and other financial accommodations made from time to time shall be final, binding and conclusive upon Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account. 2.3.2 From time to time, Borrower, Lenders and Designated Bid Lenders shall furnish such information to Administrative Agent as Administrative Agent may reasonably request relating to the Bid Loans, including the amounts, interest rates, dates of Borrowing and last days of the applicable Bid Loan Interest Periods, for the purpose of enabling Administrative Agent to allocate amounts received from Borrower to payment of amounts due and owing under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Spieker Properties Inc)

LENDERS’ ACCOUNTING. Agent The Lender shall maintain a loan account (hereinafter referred to as the "Loan Account") on its books in which shall be recorded (a) the names and addresses and the Commitments of Lenders, and principal amount of Line A Advances and Line B Advances Revolving Credit Loans owing to each the Lender from time to time, and ; (b) all Line A Advances other appropriate debits and Line B Advances credits as provided in this Loan Agreement, including, without limitation, all interest, fees, expenses, charges and repayments of principal other Obligations; and (c) all payments of accrued interest under such Advances, as well as payments of fees required to be paid pursuant to this AgreementObligations made by the Borrower or for the Borrower's account. All entries in the Loan Account shall be made in accordance with Agentthe Lender's customary accounting practices as in effect from time to time. Monthly or at such other interval as is customary with Agent's practice, Agent The Lender will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each Lenderupon the request of the Borrower. Each and every such statement shall be deemed final, binding and conclusive upon the Borrower in all respects as to all matters reflected therein (absent manifest error), unless the Borrower, within thirty ten (3010) days after the date such statement is mailed or otherwise delivered to Borrowerrendered, delivers to Agent the Lender written notice of any objections objection which the Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by the Borrower. In the event that any such objection cannot be settled by Agent and Borrower within thirty (30) days after Agent receives notice thereof from Borrower, Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, Agentthe Lender's entries in the Loan Account evidencing Advances Revolving Credit Loans and other financial accommodations made from time to time shall be final, binding and conclusive upon the Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account. The Lender, in its discretion, may charge any or all interest, fees and expenses incurred by the Borrower hereunder to the Loan Account.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Intelligroup Inc)

LENDERS’ ACCOUNTING. Agent shall maintain a loan account (the "Loan Account") on its books in which shall be recorded (a) the names and addresses and the Commitments of Lenders, and principal amount of Line A Advances and Line B Advances Loans owing to each Lender from time to time, and (b) all Line A Advances and Line B Advances advances and repayments of principal and payments of accrued interest under such Advancesthe Loans, as well as payments of fees required to be paid pursuant to the Unused Facility Fee, as provided in this Agreement. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Monthly or at such other interval as is customary with Agent's practice, Agent will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each Lender. Each such statement shall be deemed final, binding and conclusive upon Borrower in all respects as to all matters reflected therein (absent manifest error), unless Borrower, within thirty (30) days after the date such statement is mailed or otherwise delivered to Borrower, delivers to Agent written notice of any objections which Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. In the event that any such objection cannot be settled by Agent and Borrower within thirty (30) days after Agent receives notice thereof from Borrower, Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, Agent's entries in the Loan Account evidencing Advances Loans and other financial accommodations made from time to time shall be final, binding and conclusive upon Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account.

Appears in 1 contract

Samples: Credit Agreement (Prudential Bache Equitec Real Estate Partnership)

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LENDERS’ ACCOUNTING. Agent shall maintain a loan account (the "Loan Account") on its books in which shall be recorded (ai) the names and addresses and the Commitments of Lenders, and principal amount of Line A Advances and Line B Advances Loans owing to each Lender from time to time, and (bii) all Line A Advances and Line B Advances advances and repayments of principal and payments of accrued interest under such Advancesthe Loans, as well as payments of fees required to be paid pursuant to the Unused Facility Fee, as provided in this Agreement, separately identifying Loans and prepayments under the Swing Line. All entries in the Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Monthly or at such other interval as is customary with Agent's practice, Agent will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each Lender. Each such statement shall be deemed final, binding and conclusive upon Borrower in all respects as to all matters reflected therein (absent manifest error), unless Borrower, within thirty (30) days after the date such statement is mailed or otherwise delivered to Borrower, delivers to Agent written notice of any objections which Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. In the event that any such objection cannot be settled by Agent and Borrower within thirty (30) days after Agent receives notice thereof from Borrower, Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, Agent's entries in the Loan Account evidencing Advances Loans and other financial accommodations made from time to time shall be final, binding and conclusive upon Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account.

Appears in 1 contract

Samples: Credit Agreement (Pacific Gulf Properties Inc)

LENDERS’ ACCOUNTING. The Administrative Agent shall maintain a loan account (the "Loan Account") on its books in which shall be recorded (a) the names and addresses and the Commitments of Lenders, and principal amount of Line A Advances and Line B Advances Loans owing to each Lender from time to time, and (b) all Line A Advances and Line B Advances advances and repayments of principal and payments of accrued interest under such Advancesthe Loans, as well as payments of fees required to be paid pursuant to the Facility Fee, as provided in this Agreement. All entries -------- in the Loan Account shall be made in accordance with the Administrative Agent's customary accounting practices as in effect from time to time. Monthly Monthly, or at such other interval as is customary with the Administrative Agent's practice, the Administrative Agent will render a statement of the Loan Account to Borrower and will deliver a copy thereof to each LenderBorrower. Each such statement shall be deemed final, binding and conclusive upon Borrower in all respects as to all matters reflected therein (absent manifest error), unless Borrower, within thirty (30) days after the date such statement is mailed or otherwise delivered to Borrower, delivers to the Administrative Agent written notice of any objections which Borrower may have to any such statement, or within ten (10) days after discovery by Borrower of an error with respect to which Borrower had no knowledge and which could not have been determined after reasonable inquiry during said 30-day period. In that event, only those items expressly objected to in such notice shall be deemed to be disputed by Borrower. In the event that any such objection cannot be settled by Agent and Borrower within thirty (30) days after Agent receives notice thereof from Borrower, Agent shall notify all Lenders of such objection. Notwithstanding the foregoing, the Administrative Agent's entries in the Loan Account evidencing Advances Loans and other financial accommodations made from time to time shall be final, binding and conclusive upon Borrower (absent manifest error) as to the existence and amount of the Obligations recorded in the Loan Account.

Appears in 1 contract

Samples: Credit Agreement (Smith Charles E Residential Realty Inc)

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